Volta is riding a wave of investor enthusiasm for electric vehicles and related businesses. By Paul Lienert Volta, a San Francisco-based electric vehicle charging startup, said on Tuesday it had raised $125 million from investors. The Series D round brings Volta’s total funding to more than $200 million, the company said. Volta is riding a… Continue reading Investors pump $125 million into EV charging startup Volta
Author: Economic Times of India Online News
Euler Motors eyes 10-fold increase in revenue as it gears up to expand operations
Euler Motors currently has units in Okhla and Faridabad where battery manufacturing and vehicle assembly takes place. New Delhi: Automotive technology start-up Euler Motors is eyeing a 10-fold increase in its revenue to USD 20 million (around Rs 146 crore) by the end of next fiscal as it looks to start sales of its electric… Continue reading Euler Motors eyes 10-fold increase in revenue as it gears up to expand operations
German court halts criminal proceedings against former VW CEO
BERLIN: A German court in Braunschweig, Germany, said on Friday it had halted criminal proceedings against former Volkswagen CEO Martin Winterkorn for alleged market manipulation as part of the carmaker’s emissions scandal. The court said it had decided to discontinue the proceedings as the expected sentence in another case, in which Winterkorn faces charges for… Continue reading German court halts criminal proceedings against former VW CEO
Ghosn hid scale of Nissan salary, fearing dismissal from Renault, Tokyo court told
Ghosn is also charged with enriching himself through $5 million in payments to a Middle East car dealership. TOKYO – Carlos Ghosn concealed the scale of his compensation at Nissan because he feared the French government would force him out of Renault if it discovered how much he earned, an executive at the Japanese carmaker… Continue reading Ghosn hid scale of Nissan salary, fearing dismissal from Renault, Tokyo court told
Passenger Vehicle sales up by 14.59% in December 2020
New Delhi: December 2020 brought some cheer to the carmakers as the passenger vehicle segment posted a double-digit growth of 13.59% at 2,52,998 units compared to 2,22,728 units in the same month last year, according to the numbers shared by Society of Indian Automobile Manufacturers (SIAM) It is to be noted that there is the… Continue reading Passenger Vehicle sales up by 14.59% in December 2020
Tata Motors’ CEO’s term ends next month, no word on reappointment
Guenter Butschek, CEO and MD, Tata Motors MUMBAI/CHENNAI: The spotlight will be on Tata Motors’ CEO and MD Guenter Butschek whose five-year term comes to an end next month. There has been no word on whether the German, who has been managing the operations of Tata Group’s automobile flagship from Austria — where his family… Continue reading Tata Motors’ CEO’s term ends next month, no word on reappointment
US asks Tesla to recall 158,000 vehicles for touchscreen failures
Many complaints said Tesla requires owners to pay to replace the unit once warranties expire. By David Shepardson WASHINGTON – The National Highway Traffic Safety Administration (NHTSA) on Wednesday asked Tesla Inc to recall 158,000 Model S and Model X vehicles over media control unit (MCU) failures that could pose safety risks by leading to… Continue reading US asks Tesla to recall 158,000 vehicles for touchscreen failures
M&M cuts redundant job roles at its North American unit
New Delhi: Mahindra & Mahindra (M&M) on Wednesday said it has cut redundant job roles at its North American unit due to de-prioritising of non-core work amid a challenging business environment. Mahindra Automotive North America (MANA), which till early 2020 employed around 500 people, is reported to have slashed over half of the workforce. MANA… Continue reading M&M cuts redundant job roles at its North American unit
Geely and Foxconn to form auto partnership: Sources
Taiwan’s Foxconn and Chinese automaker Zhejiang Geely Holding Group will form a partnership to provide contract manufacturing and consultancy services to automakers and mobility companies, three sources said on Wednesday. The two companies will set up a joint venture which will form the basis of a strategic partnership for the auto industry, said one source… Continue reading Geely and Foxconn to form auto partnership: Sources
GM to build electric delivery vans under new BrightDrop brand
Washington: General Motors unveiled plans Tuesday to build electric vans under the new BrightDrop brand, in a move aimed at creating a new ecosystem for delivery of goods. “BrightDrop offers a smarter way to deliver goods and services,” said GM chairman and chief executive Mary Barra as she unveiled the new brand at the virtual… Continue reading GM to build electric delivery vans under new BrightDrop brand